Barclays offloads UK loans portfolio to Goldman Sachs-led consortium September 7, 2015 Barclays continued its asset sell-off yesterday, offloading its UK secured lending arm to a consortium led by Goldman Sachs. Since chief executive Antony Jenkins was replaced in July, the bank has picked up the pace of its cost-cutting under chairman John McFarlane. Earlier this month, it sold most of its Portuguese business, representing a £1.7bn [...]
New York City’s “responsible banking” law ruled unconstitutional after lawsuit from Bank of America, Goldman Sachs, JPMorgan August 10, 2015 Is New York City’s notoriously tough line on banks after the crisis about to loosen up? The city’s Responsible Banking Act has been ruled unconstitutional by a federal judge, reports news agency Reuters. The law demanded that banks provide documentation for an advisory board to review how well they met the needs of low- and [...]
Alibaba makes former Goldman Sachs executive its new president August 4, 2015 Alibaba has appointed former Goldman Sachs vice-chairman Michael Evans as its new president to lead the group's push into new international markets. Read more: As Jack Ma goes on a US charm offensive, does Alibaba pose a real threat to Amazon and Ebay? A Goldman Sachs veteran of 20 years, including a nine-year stint as its [...]
City slickers from Goldman Sachs, Morgan Stanley and Moore Capital take to the high seas for charity June 23, 2015 While some like to spend their holidays on a beach, cocktail in hand, London’s traders and analysts clearly like adventure. So it is that teams from Goldman Sachs, Morgan Stanley and Moore Capital are set to row across the Med next month. Saddle sores, aches, bruises and blisters in unfortunate places await them, as they [...]
Goldman Sachs is launching an online lending platform for small businesses June 16, 2015 Goldman Sachs is launching an online lending business for consumers and small businesses, according to an internal memo. It will allow the bank to provide loans more quickly via the internet, helping it to compete with the likes of the Lending Club, for which it was a lead underwriter only six months ago. The [...]
Goldman Sachs’ support staff lead salary and bonus rankings again June 3, 2015 BACK office bankers are best paid at Goldman Sachs, according to a study of salaries and bonuses in the sector from Emolument.com. Staff in support functions at the prestigious investment bank receive an average salary of £87,000 with an average bonus of £38,000, taking total pay up to £125,000. The next biggest bonuses is at BNP [...]
The banks which pay the biggest bonuses: Goldman Sachs, Morgan Stanley, Bank of America, JP Morgan and Citi May 27, 2015 US banks are paying their London staff a higher bonus on average than their UK counterparts. Goldman Sachs, Morgan Stanley, Bank of America, JP Morgan and Citi took the top five spots of a new survey by salary benchmarking website Emolument, while British-based banks HSBC and Barclays came eighth and 11th respectively. While there's no official data on banker [...]
Goldman Sachs slashes its oil price forecast for the next five years May 18, 2015 The good news is that after months of falls, oil prices have begun to tentatively rise (although that was thanks to fighting in Yemen and Iraq). The bad news is that Goldman Sachs doesn't think it's going to last: the investment bank has slashed its oil price forecasts for the next five years. In a [...]
George Osborne gives Goldman Sachs alum Jim O’Neill top Treasury job May 14, 2015 Former Goldman Sachs chief economist Jim O’Neill has been given a peerage and a top job in George Osborne’s treasury. The chancellor of the exchequer tweeted yesterday afternoon: “I am delighted to confirm Jim O’Neill as the new commercial secretary to the treasury to make devolution and the Northern Powerhouse happen.” https://twitter.com/George_Osborne/status/598855150640472064 Lord O’Neill, [...]
Goldman Sachs vs Sonia Pereiro-Mendez: Bank signs deal over £2m sex discrimination claim April 21, 2015 US investment bank Goldman Sachs yesterday agreed an out-of- court settlement with London-based analyst Sonia Pereiro-Mendez who had claimed that its sex discrimination had cost her almost £2m in bonuses. Details of the payout were not disclosed after the agreement was struck just hours after it was due to go into its second day. The [...]